Abstract:
BACKGROUND : In pursuit of new venture idea incubation, motivated entrepreneurs must
simultaneously commit to an idea and develop the capacity to translate this commitment into
a new venture concept. However, it is not clear how experienced entrepreneurs navigate this
complex process. In this study, key phases and competencies emerge from a deep understanding
of the lived experience of entrepreneurs engaged in the opportunity development process.
AIM : By leaning on empirical insight from seasoned entrepreneurs, this study examines the
iterative character of new venture idea incubation. The research conceptualises the lived
experience of key constructs and relationships in the new venture idea incubation process.
SETTING : The primary research was conducted in Johannesburg in South Africa.
METHODS : Longitudinal, triangulated data from purposively selected cases enabled patterning
of idea incubation processes. Computer-aided data analysis (CAQDAS) was used to code
inductively and deductively to illuminate activations and sequences.
RESULTS : This incubation period was shown to be one in which venture ideas evolve into
elementary venture concepts. The data enabled development of a framework that exemplifies
this process of incubation.
CONCLUSION : The findings extend the existing theory by describing the micro-processes that are
involved in new venture idea incubation. The findings also clarify the distinction between new
venture idea incubation and new venture opportunity evaluation, a distinction that has not
previously been evident.
CONTRIBUTION : The study contributes by exposing a micro-level view of the new venture idea
incubation process that is enacted by entrepreneurs to frame an elementary venture concept.